South Korea’s Financial Services Commission (FSC) has conditionally approved Lotte Insurance’s management improvement plan, submitted in late April, following a regulatory management improvement requirement.
The...
The updated guidelines also incorporate parameters such as the implementation of Indian Accounting Standards and the removal of “dark patterns” in customer interactions.
The state-owned insurer raised its holding through market purchases, crossing the regulatory threshold that requires disclosure of significant shareholding.
The development comes as Japanese life insurers are looking to lift portfolio yields after years of balance-sheet rebalancing ahead of new capital rules.
Prudential’s planned acquisition of a 75% stake in Bharti Life Insurance will trigger regulatory requirements on its shareholding in ICICI Prudential Life Insurance.
